GM expects its core auto operations to perform at a consistently strong level in 2023, with full-year net income attributable to stockholders of $8.7-billion-$10.1-billion
on Tuesday reported a higher quarterly net income for the fourth quarter, and forecast stronger-than-expected earnings in 2023, sending its shares up over 5 per cent in premarket trading.
The company expects its core auto operations to perform at a consistently strong level in 2023, with full-year net income attributable to stockholders of $8.7-billion-$10.1-billion, adjusted EBIT of $10.5-billion-$12.5-billion, and diluted and adjusted earnings per share of $6.00-$7.00. For the full year, GM’s profit dropped to $9.9-billion from $10-billion in 2021. EBIT-adjusted income of $14.5-billion was a record, up slightly from $14.3-billion a year earlier.
The company expects adjusted automotive free cash flow of $5.0-billion to $7.0-billion in 2023, with net automotive cash from operating activities of $16.0-billion to $20.0-billion. In the fourth quarter, GM earned $2.0-billion, up from $1.7-billion the previous year. EBIT-adjusted income of $3.8-billion topped the year-earlier $2.8-billion, as higher prices and increased sales volume in North America more than offset higher costs.Tickers mentioned in this storyBuild your personal news feed
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More than 120 $10 daycare spaces coming to Prince GeorgeThe YMCA Lac Des Bois Care and Learning Centre and Elizabeth Fry Family Centre will offer $10 a day care starting in February.
Read more »
RAPTORS BLOG: Scottie Barnes has never been better than in January of 2023RAPTORS BLOG: Scottie Barnes has never been better than in January of 2023
Read more »
Ukrainian artist who escaped to Canada named 2023 Artist in Residence by Boating BCThe artist left Moscow in 2021 and moved to Canada because she considered the future of her young son that wouldn\u0027t be in Russia.
Read more »